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Créez un compte sur Investor Centre pour enregistrer vos recherches et préférences et accéder à des annonces dédiées et à des documents. Des questions ? Consultez notre FAQ Vous devrez signer un Accord de Confidentialité (AC) pour accéder à certains documents dans la Deal Room. En signant l'AC vous acceptez de ne pas divulguer ou transmettre d'informations sensibles sur cet actif. Des questions ? Consultez notre page FAQ

Caractéristiques

Année de construction 2018
Surface
Number of units 2

Description de la propriété

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained as the exclusive sales representative for North Pointe B – a 247,000 square foot, state-of-the-art distribution facility located in the rapidly growing Charleston, South Carolina market. The Class A+ warehouse and regional headquarters facility is 100% leased to Expeditors International of Washington, Inc. (NASDAQ: EXPD) and features 6 years of remaining lease term with 2.4% annual rent escalations. Expeditors is one of the world’s largest and strongest global logistics companies with a $15.6 billion market cap, $8.2 billion in revenues (FY’19) and a robust balance sheet with an investment grade equivalent S&P: “BBB+” credit rating (shadow rated).

From this strategic, port-proximate location the company services its logistics clients such as Walmart, Boeing, Gap, Ingersoll Rand, Baby Fair Imports and numerous automotive suppliers associated with the Charleston-based Daimler and Volvo facilities. Expeditors has been growing steadily within the Charleston market since June of 1995. Their recent investment into the North Pointe B facility acts as an expansion and consolidation of various locations into one mission-critical regional headquarters and distribution facility.

Informations clés concernant l'investissement

INVESTMENT GRADE EQUIVALENT TENANCY

100% leased to Expeditors with 6 years of remaining lease term and 2.4% annual escalations

•NASDAQ-100 company publicly-traded under ticker “EXPD”

•$15.6 billion market cap

•$8.2 billion revenues (FY’19), 18.1% growth since 2017

•9.1x EBITDAR Coverage Ratio

•Shadow rated S&P: BBB+ investment grade equivalent credit rating


MISSION-CRITICAL FACILITY WITH INGRAINED OPERATIONS

This location houses Expeditors’ port operations serving its large Charleston customers such as Walmart, Boeing, Gap, Ingersoll Rand, Baby Fair Imports and numerous Daimler and Volvo automotive suppliers. As a part of the company’s long-term growth strategy, Expeditors simultaneously expanded and consolidated its various locations in the market into North Pointe B. Expeditors has operated in the Charleston market since June of 1995 and remains embedded at this strategic location as the #1 Filer in Charleston, processing the most customs entries through the Port of Charleston.


IRREPLACEABLE INFILL LOCATION

•Strategically positioned in close proximity to the Port of Charleston’s North Charleston Terminal (5.4 miles), I-526 (4.5 miles), the new Leatherman Terminal (10.5 miles) and Wando Welch terminal (14.3 miles)

•Superior regional accessibility via I-526 provides North Pointe B with direct access to the Charleston International Airport (CHS), SPAWAR defense installation and the Joint Base, large regional manufacturers and I-26 – one of South Carolina’s main distribution arteries and main linkage to I-95 to the west

•The lack of developable sites in the submarket continues to bolster North Pointe’s position in the Charleston market and provides landlords with an irreplaceable supply-constrained industrial location.


HIGHLY FUNCTIONAL, VERSATILE BUILDING DESIGN

•Institutional-quality, LEED certified design features 32’ clear, ESFR and a 45mil TPO roof with 15-year warranty (13 years remaining)

•Multiple store fronts offer flexible future leasing configurations

•Ample trailer storage area (0.22/1,000 SF) and healthy existing parking (0.76/1,000 SF) with the ability to expand employee parking area by 194 spaces (1.55/1.000 SF)


VALUABLE TAX INCENTIVES

North Pointe B has been granted a 30-year Fee in Lieu of Tax (FILOT) for the site (28 years remaining), which reduces the property’s taxes by a cumulative total of approximately $5 million over the life of the incentive. The issuance of new FILOT incentive agreements have been curtailed, creating substantial operational advantages in this facility that cannot be duplicated elsewhere in the market


TIGHT CHARLESTON MARKET EXPERIENCING STRONG GROWTH

Increased port capabilities, acceleration in e-commerce adoption and an average population growth of 30 new residents to the Charleston MSA per day (current population 802,122; expected to be over 1M in ten years) have led to increased demand in the Charleston industrial market. Moreover, the consolidation of the Boeing 787 Dreamliner production to Charleston and the addition of a second car production line at the Volvo plant increases demand for aerospace and automobile-related manufacturers and distribution users.

Last Updated Date: 01 Mar 2021
Patrick Nally
Patrick Nally
Managing Director, Capital Markets
Détenteur d'une licence en
NC-282053
Pete Pittroff
Pete Pittroff, SIOR
Senior Managing Director, Capital Markets
Détenteur d'une licence en
NC-163984

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DÉCLARATION DE CONFIDENTIALITÉ 

Jones Lang LaSalle (JLL), ainsi que ses différentes filiales et entités, est une société internationale leader du conseil en immobilier d'entreprise. Nous prenons la responsabilité de protéger avec la plus grande rigueur les informations personnelles qui nous sont confiées. 

En règle générale, les informations que nous recueillons sur vous nous permettent de traiter ou de répondre à votre demande. 

Nous nous engageons à conserver les informations personnelles qui nous sont confiées, avec le niveau de sécurité approprié, et aussi longtemps que nous le jugerons nécessaire pour toute raison professionnelle ou légale. Nous supprimerons ensuite vos données de manière sûre et sécurisée. À tout moment, vous avez la possibilité d’affiner vos préférences en termes de communication et de vous désabonner. 

Pour plus d'informations sur la manière dont JLL traite vos données personnelles, veuillez consulter notre déclaration de confidentialité.

Last Updated Date: 01 Mar 2021

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